Abuja: Ghana's Finance Minister and Chair of the African Export-Import Bank's (Afreximbank) Annual General Meeting (AGM) of shareholders, Dr. Ato Forson, has urged African leaders to implement strategic policies and targeted investments to accelerate the continent's economic integration and transformation. "With the right policies and investment, we can achieve unprecedented economic integration and prosperity," Dr. Ato Forson said in a speech delivered by Thomas Nyarko Ampem, Deputy Minister of Finance, during the opening of the Afreximbank annual meetings in Abuja, Nigeria.
According to Ghana News Agency, the meetings, held from June 25 to 28, revolved around the theme: 'Building the Future on Decades of Resilience.' Dr. Forson highlighted Africa's resilience in overcoming economic shocks, health crises, climate disruptions, political uncertainties, and global market shifts. He emphasized the importance of Africa charting its own course, focusing on self-belief, integration, production, and collaboration.
Dr. Forson addressed the challenges of climate change, geopolitical tension, youth unemployment, and infrastructural development, calling for urgent and concerted actions. He underscored the potential of the African Continental Free Trade Area (AfCFTA) to unify 1.4 billion people under a single economic framework by eliminating trade barriers. He envisioned an economically integrated, industrially robust, digitally connected, and climate-resilient Africa, requiring design, partnerships, and leadership.
Since its inception in 1993, Afreximbank has played a crucial role as a financier and development partner, supporting African trade and transformation. Dr. Forson praised the bank's efforts in enhancing intra-African trade, supporting SMEs, and fostering industrialization, citing initiatives like the Pan African Payment and Settlement System (PAPSS) as instrumental in dismantling trade barriers.
In an interview with the Ghana News Agency, Dr. George Elombi, the incoming President of Afreximbank, expressed commitment to boosting value addition on the continent, aligning with AfCFTA objectives. He outlined a processing-focused approach to create jobs, enhance skills, increase the tax base, and reduce importing unemployment.
The 32nd annual meetings of Afreximbank drew over 6,000 delegates from more than 80 countries, including African and Caribbean Heads of State, senior policymakers, global business leaders, and trade experts. Discussions centered on trade financing, economic growth, investment opportunities, AfCFTA implementation, cross-border payment systems, and strengthening Africa-Caribbean economic ties.
